DAMARA GOLD PROJECT
Namibia is a country with a population of 2.26 million people in southern Africa with an excellent infrastructure of roads, rail, deep water port, international airport and good telecommunications. It is bordered to the west by the Atlantic Ocean and shares land borders with Angola and Zambia to the north, Botswana to the east and South Africa to the south and east. Namibia enjoys one of the few democratic dispensations in Africa. Led by President Hifikepunye Phohamba, head of the South West African People’s Organization (SWAPO), Namibia has a functioning parliamentary system, observance of civil and human rights, and the holding of regular elections at local, regional, and national levels. This democratic dispensation has been in effect since independence in 1990.
Mining is the biggest contributor to Namibia’s economy in terms of revenue and accounts for 25% of the country’s income. Its contribution to the gross domestic product is also very important and makes it one of the largest economic sectors of the country and places Namibia as the fourth largest exporter of non-fuel minerals in Africa. Namibia’s natural resources include gold, diamonds, uranium, zinc, copper, rare earth metals, petroleum and tin. Namibia’s mining industry is regulated by the Diamond Act, 1999; the Minerals (Prospecting and Mining) Act, 1992; and the Minerals Development Fund of Namibia Act of 1996. The Ministry of Mines and Energy and its Diamond Affairs, Energy, and Mining Directorates regulate Namibia’s mining and petroleum industries. The Ministry concerns itself with the provision of national exploration and mining databases and competitive exploration and mining policy and regulations.